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Investor Alleges Michael Greenfield Committed Fraud, Negligence

Nov 21, 2022 Negligence

Michael Greenfield (CRD #: 5406611), a broker registered with Newbridge Securities, allegedly committed fraud, according to his BrokerCheck record, accessed on November 6, 2022. If you want to know more about his conduct as a broker, keep reading.

Investor Disputes

On September 9, 2022, an investor alleged that Michael Greenfield engaged in fraud, breached his contract, and acted negligently. This dispute is pending.

In a dispute filed on January 28, 2019, an investor named Michael Greenfield in allegations of negligence, negligent supervision, and breach of contract with regard to the purchase of master limited partnerships starting on January 1, 2014. The client sought $200,000 in damages and received a settlement of $75,000.

What is a master limited partnership?

A master limited partnership (MLP) is a publicly-traded limited partnership that allows investors to purchase shares of oil and gas partnerships and generate returns based on the strength of these industries. However, MLPs are highly speculative and may not be suitable for most investors.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision in order to detect and prevent violations of securities regulations. Among other things, firms must appoint supervisors with adequate training or experience.

What is broker negligence?

Broker negligence can come in many forms. Common types of negligence include unsuitable investment recommendations, misrepresentations and omissions, and failure to supervise.

Investors who believe their losses were caused by broker negligence can pursue FINRA arbitration and may be able to recover their funds.

Background Information

Michael Greenfield has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Michael Greenfield is a registered broker in eight states, the District of Columbia, and Puerto Rico.

He has also worked for the following firms:

  • Oppenheimer & Company (CRD#:249)
  • Morgan Stanley (CRD#:149777)
  • The GMS Group (CRD#:8000)

Kurta Law Can Help

If you worked with Michael Greenfield and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.